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NEWS
Look Out Pelosi

The market split to start the week, as positivity carried the S&P 500, while tech held back, as the market waits for a massive tech and fintech earnings week. Treasury Secretary Scott Bessent said the ball was in China’s court to move tariff deals forward, as the administration aims to negotiate about six deals a week.

Nvidia and U.S. semiconductor firms fell after the weekend news that Huawei was ready to test its newest high-powered AI chip, while Nvidia faces restrictions in China. 👀 

Today's issue covers Nvidia's semi competition, the PELOSI Act revamped, and Boeing rebuying Spirit Aero. 📰

Here’s the S&P 500 heatmap. 9 of 11 sectors closed green, with healthcare (+0.58%) leading and technology (-0.34%) lagging.

And here are the closing prices: 

COMPANY NEWS
Semiconductor Drama Shakes Up Shaky Market 🙃 

Nvidia faces fresh competition in the AI chip market as Huawei tests its new Ascend 910D processor, aiming to rival Nvidia’s H100 chips.

Nvidia shares fell 2% following reports.

The Wall Street Journal reported that Huawei plans to ship over 800,000 Ascend 910B and 910C chips this year to major clients like ByteDance and state-owned telecom carriers. The news comes as Nvidia recorded a $5.5B write-off loss after the Trump Administration restricted selling their H20 chips to China, the highest performance tech they were previously allowed to sell.

 Huawei plans to ship the chips to major clients like ByteDance and state-owned telecom carriers. While Nvidia’s latest Blackwell chips remain ahead globally, Huawei’s state-backed efforts could shift the landscape in China, especially because they are easy to get.

Not The Only Semi In Town

IBM climbed after the U.S. chipmaker announced a $150 billion investment in the U.S. over the next five years, including $30 billion for R&D to advance mainframe and quantum computer manufacturing.

Like many other tech and semi firms pledging allegiance, the firm aims to bolster American tech leadership and create jobs, aligning with IBM's long-standing focus on domestic innovation. 🌎️ 

Earnings Today

NXP Semiconductors reported an earnings beat Monday, with guidance that mostly met tough Wall Street expectations. The stock fell nearly 8% after hours when the firm said CEO Kurt Sievers is retiring from the Dutch chipmaker in October. The firm pulled in $2.64 in non-GAAP Q1 EPS, beating the $2.60 est.

Revenue came in at $2.84B, basically in line with est. $2.83B. The firm sees Q2 adj. EPS in a $2.46-$2.86 range, roughly in line with the $2.65 that analysts had been forecasting. As $NXPI ( ▼ 2.85% ) fell, Stocktwits users became ‘extremely bullish.’ 😈 

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